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David from merchantaccounts.ca explains settlement currencies for multi-currency transactions. Merchants can process transactions in domestic currency or target customers in other currencies. For example, a Canadian merchant can bill U.S. customers in U.S. dollars using a U.S. currency merchant account. The question then arises of how the Canadian merchant gets paid in this scenario. Options for payment include converting the U.S. dollars to Canadian dollars or keeping funds in the U.S. account for future expenses.
